When a partner dies, the capital account balances of the remaining partners
A) will increase
B) will decrease
C) will remain the same
D) may increase, decrease, or remain the same
D
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Autumn Resorts purchased guest room furniture on January 1, 2014 for $120,000 . The furniture has an estimated useful life of ten years. What amount will appear on Autumn's income statement for depreciation expense for the year ending June 30, 2015?
a. $1,000 b. $6,000 c. $10,000 d. $12,000
A major disadvantage to team decision-making is when team members are more concerned with preserving harmony in the group than with risking opinions that may cause conflict or offense. This is called ______.
A. group effectiveness B. social facilitation C. groupthink D. brainstorming
Harry said to Marge, "I have a ring once owned by Marilyn Monroe. Would you like to buy it for $500?" Marge pays for the ring, but the next day a friend tells her that Harry had recently purchased the ring at a local store. Marge enjoys wearing the ring and wears it constantly for twelve months. Finally, she goes to Harry and says, "Here is the ring you lied about. Give me my $500." Most likely
Marge will: a. get her money back since Harry's statement was fraudulent. b. not get her money back since she should have investigated the facts about the ring more carefully. c. not get her money back since she is a good faith purchaser of merchandise. d. not get her money back since she has affirmed the contract by taking an unduly long time to disaffirm.
On the over-the-counter market trades are executed by
A) market makers. B) day traders. C) floor traders. D) specialists.